New tab: Net Worth

[bmack]

Investments are part of the asset category, your home could be as well, value estimated through a mashup with zillow, linked to the associated mortgage account, calculating equity. Education likewise would be valued through income and income potential (indeed.com salary), linked to student loan accounts, calculating current and estimated earnings. Consumer debt total forms liabilities.

You guys get my drift. Big picture stuff with data from the user and web resources.

[o0(GoldTrader)0o]

http://www.freedigitalphotos.net/image/s_monopoly-house.jpg
A House is not an asset!Investments are part of the asset category, your home could be as wellAn asset puts money in your pocket, whereas a liability takes money out of it. RichDad (http://www.richdadwisdom.com/?p=43)

[derobert]

Quoting from your link, you're not considering a house an asset "simply because they do not generate income, [sic] unless and until they are sold for a profit." That, right under a list of assets which include stocks, which (depending on the stock) don't generate income until they are sold for a profit. Oops.

[o0(GoldTrader)0o]

Once they can get you to believe that a liability is an asset, Oops.http://i.imdb.com/Photos/Ss/0160127/4
then they have you.

No one disputes that the rich buy "income-producing assets," the poor buy worthless items that they think are assets, which clearly do not earn anything, and may have no market value what so ever.

[o0(GoldTrader)0o]

Forget about what you think things are worth. From a cash flow perspective of looking at assets and liabilities .. an asset is something that puts money in your pocket and a liability is something that takes money out.That, right under a list of assets, which include stocks, which (depending on the stock) don't generate income until they are sold for a profit. Oops.Derobert, Stocks are not a liability because it costs you nothing to maintain a stock holding. Stocks may not be an asset either, if they are not helping your cash flow. Jim's Random Notes (http://www.mischel.com/diary/2006/01/30.htm) may make this concept a little clearer.

[da bum]

Cash is a "liquid asset".
A house isn't liquid, but it's still an asset.
Stocks are arguably not liquid, but they're still an asset.

From Merriam-Webster:
"1)...
a: the property of a deceased person subject by law to the payment of his or her debts and legacies
b: the entire property of a person, association, corporation, or estate applicable or subject to the payment of debts"

Item "a" doesn't sound appealing. I don't wanna be a dead person.

Let's make up our own definitions why don't we.

[da bum]

Going back to bmack...I think a net worth tab is a great idea, but when does mint start turning into Yodlee moneycenter? I think if we really want to get fancy and sophisticated with tracking our money, then we'd have to go to either Yodlee or *gasp* Quicken.

Investments are part of the asset category, your home could be as well, value estimated through a mashup with zillow, linked to the associated mortgage account, calculating equity. Education likewise would be valued through income and income potential (indeed.com salary), linked to student loan accounts, calculating current and estimated earnings. Consumer debt total forms liabilities.

You guys get my drift. Big picture stuff with data from the user and web resources.